Fossil Energy
Eni defends balance sheet and dividend with huge capex and opex cuts
Italian oil and gas company Eni has decided to reduce its capex and opex for this year and the next as a result of the coronavirus pandemic and the oil price war.
Murphy Oil CEO on medical leave over coronavirus concerns
President and chief executive officer (CEO) of U.S. oil and gas company Murphy Oil has taken a temporary medical leave over coronavirus concerns.
ConocoPhillips to take operatorship of permit offshore Australia
Australia’s 3D Oil Limited and ConocoPhillips have executed a joint operating agreement (JOA) in relation to the offshore Tasmanian Permit T/49P, which satisfies a key condition of the farmout agreement (FOA) signed in December 2019.
Vaalco wraps up drilling campaign offshore Gabon
Vaalco has completed its 2019/2020 drilling campaign in the Etame Marin permit offshore Gabon, which included three development wells and two appraisal wells that confirmed additional resources.
Russia’s Sakhalin plant ships milestone LNG cargo
Russia’s Sakhalin-2 liquefied natural gas (LNG) export terminal, operated by energy giant Gazprom, has loaded a milestone cargo at its facility in the port of Prigorodnoye. The milestone 1,800th cargo was loaded on Wednesday onto the Hyundai Aquapia LNG carrier. The cargo, purchased by LNG importing
ConocoPhillips to take operatorship of permit offshore Australia
Australia’s 3D Oil Limited and ConocoPhillips have executed a joint operating agreement in relation to the offshore Tasmanian Permit T/49P, which satisfies a key condition of the farmout agreement signed in December 2019.
Coronavirus spread pushes Bahamas well drilling to October
London-listed oil company Bahamas Petroleum Company (BPC) has further pushed back the drilling of its first exploration well in The Bahamas, the Perseverance #1.
Coronavirus spread pushes Bahamas well drilling to October
Bahamas Petroleum Company (BPC) has further pushed back the drilling of its first exploration well in The Bahamas, the Perseverance #1.
Over million oilfield jobs on the line due to oil price war and coronavirus, Rystad says
More than a million jobs in the oilfield service industry (OFS) are likely to be cut in 2020 due to low project volumes brought upon by the Covid-19 epidemic and the ongoing oil price war, a Rystad Energy impact analysis shows, also revealing that shale services will bear most of the reductions.
LNG Canada reduces workforce due to COVID-19
LNG Canada, the Shell-led multibillion-dollar project, has temporarily reduced the number of workers at its site in Kitimat by about 50 percent to help reduce the spread of the COVID-19 virus. According to a statement by LNG Canada, only personnel working on essential activities will be working at t
Over million oilfield jobs on the line due to oil price war and coronavirus, Rystad says
More than a million jobs in the oilfield service industry (OFS) are likely to be cut in 2020 due to low project volumes brought upon by the Covid-19 epidemic and the ongoing oil price war, a Rystad Energy impact analysis shows, also revealing that shale services will bear most of the reductions.
Odfjell Terminals US secures $250 million loan
Odfjell Terminals US (OTUS), jointly owned by Norwegian terminal operator Odfjell SE and Candian Northleaf Capital Partners, has closed a new five-year, $ 250 million revolving credit facility. The loan is intended for debt refinancing and funding investments in the existing infrastructure and new g
Inpex reviewing investment plans amid oil price decline and coronavirus crisis
Japan’s Inpex Corporation is reviewing its investment plans and looking into other cost-reducing measures due to the current market situation and the impact of the coronavirus and the oil price decline on its business operations.
Maersk Product Tankers back to black
Danish tanker owner and operator Maersk Product Tankers returned to black having reported a profit of $91.4 million for 2019 as freight markets improved across all tanker segments. The profit marks a significant recovery when compared to a loss of $35 million a year earlier. The tanker shipping comp